Kuwait Recovers KD 5 Million Through Auction Of Al-Raja’an Shares

  • 15/11/2020

Kuwait City : As per reports, the Public Prosecution retrieved approximately KD 5 million of Kuwait funds from Fahad Al-Raja'an, former Director-General of the Public Institution for Social Security through the sale of his shares in 32 listed and unlisted firms. As per reports, the process of selling the shares began the day before Friday. All the listed shares were sold at the traded market value and a majority of the unlisted shares were sold through the auction. The Criminal Court has sentenced A-Raja'an and his wife to life imprisonment in absentia and ordered that they should jointly return $82.2 million to the State Treasury and fined him double the amount. His wife was also fined $147.6 million

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